Ventive Hospitality is betting on a strong FY26, with Chairman Atul Chordia projecting double-digit growth in the coming quarters.“The next two quarters are looking extremely good. We will be growing in double digits, there is no doubt about it,” Chordia told CNBC-TV18.The company expects momentum to pick up during the wedding and festive season, which typically boosts both occupancy and food and beverage (F&B) demand. “Q3 and Q4 is always the wedding quarter and the MICE business quarter. During those two quarters, we have huge growth, not only in our company but across the hospitality industry,” Chordia said.
Average room rates have already risen to ₹19,498 from about ₹17,000 earlier, with further upside possible in the festive months. Occupancy, which dipped in May due to geopolitical tensions and cancellations, is expected to recover. Chordia said, “We are very confident that we will have 67–70% kind of occupancy.”F&B is also set to play a bigger role, contributing 45–47% of revenues. Growth is expected to be around 10–12% in Q2, accelerating to 22–26% in Q3 and Q4 as weddings and MICE demand kick in. “If not for the month of May, we would have grown another 7–8%,” Chordia noted.Internationally, the company’s Maldives portfolio is steadying with three hotels and 567 operational keys. Q1 benefited from Easter demand, while Q2 could be softer due to rains. However, Q3 and Q4 bookings are strong. “We will be doing almost 76–80% occupancy, based on bookings. Maldives bookings are usually made six months in advance,” Chordia added.In Q1FY26, Ventive Hospitality posted revenue of ₹520 crore, nearly 18% higher year-on-year. Despite a fall in margins and occupancy, Chordia remains confident of building momentum as the year progresses.Below is the verbatim transcript of the interview.Q: Just give us a sense of how the quarter panned out when it came to your key parameters, such as your occupancy as well as your average revenue per room, given that we did see some amount of disruptions on the geopolitical front in the month of May. How did that affect business, and what is it looking like in FY26?Chordia: We’ve had a great Q1FY26. Our total revenue was ₹520 crore, which was almost 18% growth year-on-year. In hospitality, we posted a EBITDA of ₹179 crore from Indian hospitality and ₹207 crore from our international hospitality portfolio.Q: Could you just narrow down and give us a sense of how the quarter panned out for you? Your occupancy dipped a little bit. What was the impact because of the geopolitical tensions in the month of May, and how much did that affect business this time? What are you expecting in the next one to two quarters?Chordia: We have had great growth on the F&B side. Due to geopolitical reasons, our occupancy went down because of huge cancellations, but we covered it up on the F&B side. The next two quarters are looking extremely good. We will be growing in double digits, there is no doubt about it. If not for the month of May, we would have grown another 7–8%.Q: So double-digit growth in terms of revenue is what you are anticipating in the coming quarter?Chordia: Yes, because we are having good booking traction.
Q: What are you expecting in terms of EBITDA as well as occupancy?Chordia: In the first quarter, we have shown ₹520 crore EBITDA. We are very sure that it will grow at least 12–14% from this in the second quarter. In the third and fourth quarter, which is usually the season for weddings, Diwali, Christmas, will be much better.Q: Since you’re saying the second and third quarters will be much better because of weddings and the festive season, what does it do to your average room rate? It has already moved to ₹19,498 versus around ₹17,000 earlier. Are there enough triggers to move it higher? Also, this time around, your occupancy fell. Was that entirely because of the business you lost in May? What number are you looking at for FY26?Chordia: We are very confident that we will have 67-70% kind of occupancy. Q3 and Q4 is always the wedding quarter and the MICE business quarter. During those two quarters, we have huge growth, not only in our company but across the hospitality industry.Q: Your non-resident F&B business was quite strong this quarter. How much was it as a percentage of revenue, and what are you projecting in terms of sales growth in F&B going forward?Chordia: We usually do 45–47% F&B compared to rooms.Q: How much did it grow in the quarter gone by?Chordia: This quarter, we have done ₹520 crore; the next quarter will be above ₹600 for sure.Q: I’m asking particularly about F&B. What growth trajectory are you expecting there? Are you expecting it to grow above 10%, up to 15% or 20%?Chordia: In Q2, F&B growth is likely to be similar, maybe around 10–12%, but by Q3 and Q4, F&B growth will be about 22–26%.Q: That’s because of the wedding season kicking in?Chordia: Yes, weddings and MICE together.Q: Tell us a little about your international business. You have operations in the Maldives, and that has grown quite significantly this quarter in terms of revenue as well as EBITDA. What is working well for the company there?Chordia: In the Maldives, we have three hotels with 567 operational keys. Q1 is not usually very good in the Maldives, but because of Easter falling in this quarter, we had very good growth. In Q2, we may hold up or go a little down due to heavy rains, but in Q3 and Q4, we will be doing almost 76–80% occupancy, based on bookings. Maldives bookings are usually made six months in advance.Also: Yes Bank announces RBI nod for SMBC to acquire up to 24.99% stake
